Under a new agreement with the Chinese conglomerate HNA Group, SL Green Realty will raise its total stake at 245 Park Ave. to $148.2 million. HNA paid $2.21 billion in 2017 and SL Green held a junior piece of its $1.8 billion in financing.
SL Green will also now formally serve as property manager and oversee all leasing and operations. Cushman & Wakefield currently handles office leasing and Mogull Realty the retail.
Broker Kim Mogull of Mogull Realty said leases are now out with restaurants, including a prominent white table-cloth operator for a spot on Park Avenue.
Benjamin Lambert, Evan Layne and David Lazarus of Eastdil Secured repped HNA in the financial transactions.
The 1.78-million-square-foot tower sits on the entire block bounded by East 46th and 47th streets and Lexington Avenue and is opposite the JPMorgan Chase headquarters.
This story was originally published by NY Post
via USAHint.com
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